ESW records 28% turnover increase

Turnover grew by €271m to €1.24bn with strong growth in all markets

Trade

Tommy Kelly, ESW

Global ecommerce provider ESW, formerly eShopWorld, has published an overview of its 2021 operating performance and 2022 outlook.

Turnover for 2021 grew by €271 million to €1.24 billion, an increase of 28%, with strong growth in all markets, while its earnings before interest, tax, depreciation, and amortisation increased by 3% to €41 million. 

Profit after taxation for the year was €22.9 million, a dip of 9.8% on the prior year period (€25.4 million) reflecting a substantial increase in upfront investment in talent and in its e-commerce platform to support future sustainable growth.

ESW’s total headcount at year end 2021, inclusive of full-time contract personnel, exceeded 620, an increase of over 200 people since January 2020. Year-end 2022 headcount, inclusive of the acquisition of Scalefast – acquired in June 2022 – will exceed 1,000 and the business remains in active hiring mode.

“The growth momentum of recent years – before, during and ‘post Covid’ – shows an inexorable shift to e-commerce that shows no sign of abating,” said Tommy Kelly, chief executive, ESW. “Our continuing investment focus has enabled ESW to scale at pace during the pandemic years but more importantly, to support the ambitious international growth aspirations of our brand partners. 

“The recent addition of Scalefast strongly complements our speed to market and market reach credentials whilst adding data analytics and the ability to deliver highly targeted and localised direct-to consumer brand campaigns.

“We have seen a continuation of robust growth in 2022 and are on track to deliver full year revenues of approximately €1.5 billion. We continue to hire talent in Ireland and overseas which we see as critical in scaling to a €5 billion business over the coming years.”

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